Loan Comparison: 4.98% vs 6.5%
385 Main, Broomfield, CO 80020 · 4bd/3ba · $649,000
List Price
$649,000
Assumable Rate
4.98%
Remaining Balance
$430,429
Equity Gap
$217,901
Loan Type
FHAAdjust Your Scenario
$32,450
$32,450$217,901
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 6.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,897/moAssumable @ 4.98% + gap loan
$3,731/moAssumed loan: $2,305/mo
Gap financing: $1,426/mo
$166less per month with the assumable
Your Savings on This Property
385 Main, Broomfield · 4.98% FHA vs 6.5% conventional
$166
per month
$1,988
per year
$59,645
over 30 years
$58,975
interest saved
How gap financing works: The equity gap ($217,901) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,450, 5% of purchase price) and a second mortgage for the rest ($185,451 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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